Search found 627 matches

by 2tall4economy
Tue Oct 20, 2020 2:07 am
Forum: Personal Consumer Issues
Topic: Items that are worth the money for the quality
Replies: 490
Views: 41565

Re: Items that are worth the money for the quality

Sonos speakers and soundbars (not as good as audiophile Naim, but good enough and user-friendly) Many times Sonos has been mentioned on this thread. Are they really that great? Based on price alone I can't imagine they stand up to the speakers you'd find in a Best Buy Magnolia room. Sonos sound is ...
by 2tall4economy
Tue Oct 20, 2020 1:26 am
Forum: Personal Consumer Issues
Topic: Convince us to buy our first luxury car!
Replies: 193
Views: 10904

Re: Convince us to buy our first luxury car!

We have a Macan (great car) we are quite a bit older and more financially secure. I could tell you no or hell no but why would you listen to a nobody. What I would suggest you do for yourself, is call the Porsche dealer ask how much would an oil change cost on your Macan. If that does not give you ...
by 2tall4economy
Tue Oct 20, 2020 1:21 am
Forum: Personal Consumer Issues
Topic: Convince us to buy our first luxury car!
Replies: 193
Views: 10904

Re: Convince us to buy our first luxury car!

I'd make sure you actually have the ability to enjoy your vehicle. If you're stuck in back to back traffic most of the time, it doesn't really matter what you drive. If live in an area, where you can tell the difference, then why not spend it and enjoy? You'll know if it's a good a decision within ...
by 2tall4economy
Mon Oct 19, 2020 7:03 pm
Forum: Personal Consumer Issues
Topic: Convince us to buy our first luxury car!
Replies: 193
Views: 10904

Re: Convince us to buy our first luxury car!

It’s an emotional thing vs rational so I expect you’re not going to listen fully. But what I would say is smartest, and to be fair, I didn’t follow this fully: 1) have enough to pay in cash - whether you do or not is a different story 2) decide ahead of time what percentage of net worth you want to ...
by 2tall4economy
Mon Oct 19, 2020 2:27 pm
Forum: Personal Consumer Issues
Topic: Most comfortable shoe: please recommend
Replies: 81
Views: 6840

Re: Most comfortable shoe: please recommend

Hoka One One. Never did anything but go to payless and pick something for the last 30 years, and also Allen Edmonds for dressware. Then I went with my brother to an actual shoe store because he needed something and asked what they had on a whim, described my situation, and they told me to try Hokas....
by 2tall4economy
Mon Oct 19, 2020 2:21 am
Forum: Personal Consumer Issues
Topic: Which diet soda pop do you enjoy?
Replies: 234
Views: 14120

Re: Which diet soda pop do you enjoy?

Coke Zero. Everyday for about 10 years or whenever it came out. Used to be 6-8 cans per day (not a typo). Now it’s 1-2.
by 2tall4economy
Mon Oct 19, 2020 1:59 am
Forum: Personal Consumer Issues
Topic: Items that are worth the money for the quality
Replies: 490
Views: 41565

Re: Items that are worth the money for the quality

Surprisingly (or maybe not) a lot of people already highlighted quite a few things I find the value in regardless of the price tag. But to add my votes for stuff that is high quality and I generally haven’t had to replace and / or are so good I happily pay a premium: Hoka one one shoes Darn tough so...
by 2tall4economy
Thu Oct 08, 2020 11:12 pm
Forum: Personal Consumer Issues
Topic: Do I need a new modem?
Replies: 15
Views: 954

Re: Do I need a new modem?

As a crazy heavy user of internet working online every day with video and having all files running off a central server ——— I find the slowest available internet speed from the provider is way more than enough for our family and 5 year old technology is more than fast enough for everything we do. Th...
by 2tall4economy
Tue Oct 06, 2020 11:46 pm
Forum: Personal Consumer Issues
Topic: Paging BH Gearheads: Reasonable Net Worth for Exotic
Replies: 152
Views: 13837

Re: Paging BH Gearheads: Reasonable Net Worth for Exotic

Just picked up an exotic I’ve been working toward for about 25 years. Details aren’t too important, but for anyone looking for guidance, this is what I did. Waited until I had more than enough net worth to surpass the “never have to eat dog food again”. Can see the light at the end of the tunnel to ...
by 2tall4economy
Thu Sep 24, 2020 11:25 pm
Forum: Personal Finance (Not Investing)
Topic: Should I Quit Hated Job And Take 80% Pay Cut?
Replies: 62
Views: 8349

Re: Should I Quit Hated Job And Take 80% Pay Cut?

I’ve had two jobs and about 3 years in my career where the country and or my direct boss were so miserable I had anxiety every morning when I woke up and drank every night. In both cases i sucked it up until I had another job opportunity lined up. I checked out mentally at work and focused on hobbie...
by 2tall4economy
Thu Sep 17, 2020 1:59 am
Forum: Personal Finance (Not Investing)
Topic: who do you bank with and why?
Replies: 168
Views: 16210

Re: who do you bank with and why?

I read through most of the fidelity thread which was a good one. A one stop shop is certainly attractive in many ways. For those who are taking this approach, how do you feel about their total fee structure, and how much do you have with them? We have $1M+ with them. 401k, Roths, taxable, cash mana...
by 2tall4economy
Wed Sep 16, 2020 2:47 pm
Forum: Personal Finance (Not Investing)
Topic: Buying vs. Renting Principles
Replies: 233
Views: 19787

Re: Buying vs. Renting Principles

Let me know if you have any feedback. Please share other resources, principles, and relevant links to this topic, I will edit this OP to include them if they are helpful. Thanks! Great post. As a landlord of more than a decade and having lived all over the world and moved more than 10 times, your e...
by 2tall4economy
Tue Sep 15, 2020 8:59 pm
Forum: Personal Investments
Topic: Purchasing home with less than 20% downpayment experiences?
Replies: 59
Views: 5033

Re: Purchasing home with less than 20% downpayment experiences?

TL;DR: 1) you should have the money for the downpayment, even if you don't use it for that. 2) You should make sure you're comparing rent to PITIMR, not just PI or PITI. 3) Servicing amortizing loans is a losers game ------ I've been a landlord for ~15 years (and still am) and I currently rent my pe...
by 2tall4economy
Wed Sep 09, 2020 10:36 pm
Forum: Personal Finance (Not Investing)
Topic: What % of income to spend on car?
Replies: 122
Views: 8785

Re: What % of income to spend on car?

<bias>As a auto industry veteran, you are contradicting yourself by using the words “enjoy” when referring to a Japanese vehicle. They are Great little appliances to get you from a to b and that’s about it. </bias> Oh and they don’t have the quality premium they did when your parents were buying the...
by 2tall4economy
Mon Sep 07, 2020 7:34 pm
Forum: Personal Finance (Not Investing)
Topic: Experience with Better Mortgage
Replies: 51
Views: 7467

Re: Experience with Better Mortgage

Cons Really, just one: The amount of documentation they’ve requested has far exceeded any other loan I have done. I’m self-employed, so I’m used to greater scrutiny, but their requests have been downright egregious. They have requested proof of things that have never come up before, based on esoter...
by 2tall4economy
Sun Sep 06, 2020 4:51 pm
Forum: Personal Finance (Not Investing)
Topic: What is US Bank up to?! Easy Checking Secret Changes!
Replies: 15
Views: 2897

Re: What is US Bank up to?! Easy Checking Secret Changes!

I haven’t used them yet but the impression I get from website and having them pitch to me in parallel to others is that they are the least likely to be pushy and difficult, and their fees are approximately the same as others.
by 2tall4economy
Sun Sep 06, 2020 4:14 pm
Forum: Personal Investments
Topic: Anybody invested with US Bank Wealth?
Replies: 11
Views: 1142

Re: Anybody invested with US Bank Wealth?

I got their wealth management pitch recently. Unlike every other bank they went out of their way to note they have no proprietary products to sell you And they used the word fiduciary as often as possible during the hour they had. Probably every 6th word their said... Not sure if they’re pushing som...
by 2tall4economy
Sat Sep 05, 2020 4:30 pm
Forum: Personal Finance (Not Investing)
Topic: Please recommend me a credit card
Replies: 27
Views: 2775

Re: Please recommend me a credit card

I’ve looked into this a few times. Cash back unlimited no rules cards are the best thing going if you don’t want to micromanage. Best I’ve seen: 1) Bofa (2.xx+) 2) Alliant bank (2.5%) 3) tie- fidelity 2%, citibank 2%, Capital one spark cash 2% I think that’s all of the ones over 2%. Anything not at...
by 2tall4economy
Fri Sep 04, 2020 6:46 pm
Forum: Personal Finance (Not Investing)
Topic: Please recommend me a credit card
Replies: 27
Views: 2775

Re: Please recommend me a credit card

I’ve looked into this a few times. Cash back unlimited no rules cards are the best thing going if you don’t want to micromanage. Best I’ve seen: 1) Bofa (2.xx+) 2) Alliant bank (2.5%) 3) tie- fidelity 2%, citibank 2%, Capital one spark cash 2% I think that’s all of the ones over 2%. Anything not at ...
by 2tall4economy
Wed Sep 02, 2020 1:10 am
Forum: Personal Investments
Topic: Transfer Vanguard IRA back to Fidelity 401k?
Replies: 12
Views: 903

Re: Transfer Vanguard IRA back to Fidelity 401k?

My plan just sucks then I guess :)
by 2tall4economy
Wed Sep 02, 2020 1:09 am
Forum: Personal Finance (Not Investing)
Topic: When to focus on increasing income?
Replies: 41
Views: 2545

Re: When to focus on increasing income?

Those professions may start around similar levels but finance will out perform teaching many times over if you stick with it. Ask my how I know.

Good luck.
by 2tall4economy
Tue Sep 01, 2020 9:33 pm
Forum: Personal Investments
Topic: Transfer Vanguard IRA back to Fidelity 401k?
Replies: 12
Views: 903

Re: Transfer Vanguard IRA back to Fidelity 401k?

Do your own research but I’m 99% sure you can’t ever roll money into a 401K that you’ve rolled out. The WHOLE POINT of a Rollover IRA is to hold money from a previous employer tax-deferred plan until you have access to another employer plan! It is up to the new 401K if they will accept the Roll-ove...
by 2tall4economy
Tue Sep 01, 2020 9:32 pm
Forum: Personal Finance (Not Investing)
Topic: Co-Signing mortgage for parents
Replies: 29
Views: 2354

Re: Co-Signing mortgage for parents

I'd make it so YOU own the house and they "rent" it. Sounds harsh, but this will matter for other financing in your future. I had to have my dad sign a rental agreement once so that the bank would refinance my own house. That worked because he wasn't on the deed. if he would have been it ...
by 2tall4economy
Tue Sep 01, 2020 2:42 am
Forum: Investing - Theory, News & General
Topic: What is your age and asset allocation ?
Replies: 470
Views: 39282

Re: What is your age and asset allocation ?

44.

75% stock market - 100% equities
25% real estate rentals
by 2tall4economy
Tue Sep 01, 2020 2:41 am
Forum: Personal Investments
Topic: Transfer Vanguard IRA back to Fidelity 401k?
Replies: 12
Views: 903

Re: Transfer Vanguard IRA back to Fidelity 401k?

Do your own research but I’m 99% sure you can’t ever roll money into a 401K that you’ve rolled out. I’m 100% sure that moving the ira money to another bank doesn’t help you from a backdoor perspective. The irs doesn’t look at the bank you use, they look at you as a whole. You’re in the same position...
by 2tall4economy
Tue Sep 01, 2020 2:37 am
Forum: Personal Finance (Not Investing)
Topic: I have to select a lender for my new home mortgage. Which one should I select?
Replies: 16
Views: 1095

Re: I have to select a lender for my new home mortgage. Which one should I select?

I’ve never had anything but bad experiences and failures from quicken and I’ve given them a chance several times. Many many others think they’re fine though so your mileage may vary. I would never trust them in a pinch. B of a similarly made my life miserable with paperwork even though the mortgage ...
by 2tall4economy
Tue Sep 01, 2020 2:30 am
Forum: Personal Finance (Not Investing)
Topic: Sell or Rent
Replies: 25
Views: 1906

Re: Sell or Rent

As a long time landlord, I would advise selling.

This market May be really good for you too depending, but j suspect your home is too valuable to catch the seeet spot right now - ask me how I know ;)
by 2tall4economy
Fri Aug 28, 2020 10:47 pm
Forum: Personal Finance (Not Investing)
Topic: ‘Play money’ invested by Dad growing huge - what would you do?
Replies: 109
Views: 15902

Re: ‘Play money’ invested by Dad growing huge - what would you do?

pay the mortgage. thank your dad for buying your house.

On a more serious note, your debt vs savings would keep me up at night. this is a great way to fix that.
by 2tall4economy
Fri Aug 28, 2020 10:30 pm
Forum: Personal Finance (Not Investing)
Topic: Co-Signing mortgage for parents
Replies: 29
Views: 2354

Re: Co-Signing mortgage for parents

I refinanced my parents house in my name when they were on the verge of the 3rd time in their life of having to give their house back to the bank and they were paying 9.5% when rates were basically the same as they are now. My dad was terrible with money (and was a Financial Adviser! shoemaker's kid...
by 2tall4economy
Fri Aug 28, 2020 9:41 pm
Forum: Personal Consumer Issues
Topic: Free powerwall worth it?
Replies: 46
Views: 6731

Re: Free powerwall worth it?

how are you getting a free powerwall, dont they cost like $8-10K?? Id like one... +1 ...and if not mentioned above - be aware that if you have batteries, you might want to re-wire your solar panels. When I lived in NY I had panels installed because of the tax breaks and when I did I asked if they'd...
by 2tall4economy
Fri Aug 28, 2020 9:38 pm
Forum: Personal Investments
Topic: Put me on the right path
Replies: 12
Views: 1328

Re: Put me on the right path

Might be doing some bad math here but assuming I got the # right: pension 5,433 at 50 + ~800k / 25 = ~8k of savings to live off, or ~$100k. And you make $96k now and when you retire you won't need to contribute to retirement plans. You can withdraw the roth contributions penalty free and you won't ...
by 2tall4economy
Fri Aug 28, 2020 8:44 pm
Forum: Personal Investments
Topic: Put me on the right path
Replies: 12
Views: 1328

Re: Put me on the right path

Might be doing some bad math here but assuming I got the # right: pension 5,433 at 50 + ~800k / 25 = ~8k of savings to live off, or ~$100k. And you make $96k now and when you retire you won't need to contribute to retirement plans. You can withdraw the roth contributions penalty free and you won't c...
by 2tall4economy
Thu Aug 27, 2020 9:25 am
Forum: Personal Finance (Not Investing)
Topic: Sharing my adventure with banking solutions thus far
Replies: 2
Views: 516

Re: Sharing my adventure with banking solutions thus far

I can understand your perspective. I'm sure they are reacting that way because you're only dipping your toe in and they now know you're only the bonus so they're trying even harder to sell you, which probably should be expected. Any business would try to get more revenue from you if you were just ta...
by 2tall4economy
Thu Aug 27, 2020 1:21 am
Forum: Personal Finance (Not Investing)
Topic: Sharing my adventure with banking solutions thus far
Replies: 2
Views: 516

Sharing my adventure with banking solutions thus far

Was responding to a thread that someone wrote back in Feb but didn't seem to line up perfectly with what they were asking, so thought I'd create my own. Just sharing my experiences. I have been looking for an all-in one banking solution with single point of contact for as much as possible. Talked wi...
by 2tall4economy
Sat Aug 22, 2020 11:01 pm
Forum: Personal Finance (Not Investing)
Topic: Are emergency funds for suckers?
Replies: 202
Views: 16265

Re: Are emergency funds for suckers?

bloom2708 wrote: Thu Aug 20, 2020 9:56 am Once you have a taxable account with 2x or 3x your Emergency Fund, that makes an Emergency Fund not really necessary.
+1
by 2tall4economy
Sat Aug 22, 2020 10:32 pm
Forum: Personal Finance (Not Investing)
Topic: Young couple, not sure how much house to buy...
Replies: 28
Views: 3408

Re: Young couple, not sure how much house to buy...

My vote is with the debt payoff first group. People move around all the time for employment and high end homes sell slowly and often for losses. I've lived in 1000 sq ft with 2 adults and a baby (manhattan). It can certainly be done. Try renting a house - there are usually some available wherever I'...
by 2tall4economy
Sat Aug 22, 2020 9:16 pm
Forum: Personal Finance (Not Investing)
Topic: Jumbo Loans - Share your experience
Replies: 24
Views: 1920

Re: Jumbo Loans - Share your experience

I just looked into a lot of loan programs to see what the maximum loans available were. Not much relevant for you due to what I was after there, but will share that 2.875% for a 30 fixed came up quite often (in some cases it was the "super special friend discount" in other cases it was the...
by 2tall4economy
Sat Aug 22, 2020 2:19 am
Forum: Personal Finance (Not Investing)
Topic: how often do you check your net worth?
Replies: 153
Views: 10003

Re: how often do you check your net worth?

whenever I take a look at my mint or personal capital...

but it only "counts" on Dec 31 when I record it on my excel file for posterity.
by 2tall4economy
Sat Aug 22, 2020 1:59 am
Forum: Personal Finance (Not Investing)
Topic: What if my renter DOESN’T call me at 3am about the toilet?
Replies: 37
Views: 5518

Re: What if my renter DOESN’T call me at 3am about the toilet?

Been a landlord 15 years. I've never had the 3am toilet call. A few bathroom related calls but they were during the day, over email and not urgent.

That said, I'm staring at being "mid 40s" and thinking my time is not best spent dealing with tenants, so I'm exiting my landlord business.
by 2tall4economy
Sat Aug 22, 2020 1:32 am
Forum: Investing - Theory, News & General
Topic: Investment strategies for high net worth individuals
Replies: 56
Views: 6092

Re: Investment strategies for high net worth individuals

In my, albeit limited, experience, the number is $2M for many banks, and $10M for northern trust and JP morgan.

based on polling a number of private banks recently.
by 2tall4economy
Sat Aug 22, 2020 1:16 am
Forum: Personal Finance (Not Investing)
Topic: An un-bogleheaded question on high end home financing
Replies: 19
Views: 2030

Re: An un-bogleheaded question on high end home financing

As promised, I'm here to report what I found. About 2 weeks ago I posted my results of asking ~50 insurance companies for a quote. In that post, I said that I viewed insurance as the 2nd worst profession to deal with. I have to correct my statement. Finding details on super jumbo mortgages was far w...
by 2tall4economy
Fri Aug 21, 2020 9:59 pm
Forum: Personal Finance (Not Investing)
Topic: Huge escalations in cost of homeowners insurance
Replies: 59
Views: 6495

Re: Huge escalations in cost of homeowners insurance

Adding myself to the thread. Our home + auto + umbrella insurance bills are adding up to $7084 this calendar year. That's for 2 Chevrolet (2015 Volt and 2017 Bolt), with no claims or tickets in 3 years, a $2M mansion, and $2M umbrella, with maximum deductibles with Safeco ($1000 on auto, $5000 on h...
by 2tall4economy
Thu Aug 20, 2020 9:49 pm
Forum: Personal Finance (Not Investing)
Topic: Huge escalations in cost of homeowners insurance
Replies: 59
Views: 6495

Re: Huge escalations in cost of homeowners insurance

I understand why you say that, but I have to disagree. I would argue USAA cost is cearly "premium", they're consistently the highest rated out there, and in my personal experience they go above and beyond the written policy to keep you happy. In one instance I had a rental property that w...
by 2tall4economy
Thu Aug 20, 2020 3:21 pm
Forum: Personal Finance (Not Investing)
Topic: Huge escalations in cost of homeowners insurance
Replies: 59
Views: 6495

Re: Huge escalations in cost of homeowners insurance

Update: Policy with Chubb is brokered by USAA. On the phone with them today. They will shop it to Pure, same replacement cost numbers, and come back in a couple of days. I'd be very curious what you find with PURE vs Chubb. I heard very good things about them but they wouldn't quote me because I'm ...
by 2tall4economy
Thu Aug 20, 2020 3:15 pm
Forum: Personal Finance (Not Investing)
Topic: Huge escalations in cost of homeowners insurance
Replies: 59
Views: 6495

Re: Huge escalations in cost of homeowners insurance

Short answer, Chubb is a premium carrier, along with USAA, PURE and some others -- I'm sure you can find someone significantly cheaper without too much work. USAA is a mass market carrier, while Chubb, PURE and a few others are high value carriers. As such, USAA's contractual features are significa...
by 2tall4economy
Wed Aug 19, 2020 3:20 pm
Forum: Personal Investments
Topic: Really dumb Question - what does saving x% mean?
Replies: 21
Views: 2127

Re: Really dumb Question - what does saving x% mean?

Lots of ways and all potentially valid. I've gone back and forth on whether I should include a second car in my net worth vs my "estate" or "expenses" instead. After all I could just use Ubers or a bike and sell my cars. Same applies to income. Exceptions, special cases, philosop...
by 2tall4economy
Wed Aug 19, 2020 12:07 am
Forum: Personal Investments
Topic: Starting over
Replies: 22
Views: 3054

Re: Starting over

Dumbdoc wrote: Tue Aug 18, 2020 9:10 pm Why fidelity over vanguard? Seems a strange conclusion for a Boglehead.
Customer service and ease of use. But what pushed me over the edge was the zero fee funds.
by 2tall4economy
Tue Aug 18, 2020 11:56 pm
Forum: Personal Investments
Topic: Starting over
Replies: 22
Views: 3054

Re: Starting over

The other option is to leave your funds at your current bank but drop the advisor and shift into a 2-4 low cost fund portfolio. You would still have access to the majority of their services if any are important to you based on your total assets, but lose the advisor AUM fees. I struggle to see how ...
by 2tall4economy
Tue Aug 18, 2020 11:32 pm
Forum: Investing - Theory, News & General
Topic: Investment strategies for high net worth individuals
Replies: 56
Views: 6092

Re: Investment strategies for high net worth individuals

For me it's whatever can weather the worst drawdowns we've seen in our history and still be able to withdraw 4% without running out of money. Probably somewhere around $6M to $10M before I'd feel like I couldn't really lose what I built. Beyond that, it's funny money used for entertainment, gambling...
by 2tall4economy
Tue Aug 18, 2020 11:02 pm
Forum: Personal Investments
Topic: How much did you save?
Replies: 102
Views: 14304

Re: How much did you save?

Tax deferred accounts only (easiest to measure because I only put money into the market this way for years and after tax investing I did via rental property), it took me and my wife 14 years to hit $1M. And it looks like my actual contributions in total were $445k to hit that $1M. The simple average...